Tuesday, May 13, 2014

However, this plan type is often restricted to plan owners and benefactors who are residents of the state where the fund was opened.

The Right Plan

The 529 Plan is a helpful scheme that has allowed many youths get the education they deserve. One state may offer several 529 Plans so it is important for would be plan owners to weigh their options carefully. Additionally, parents may also want to explore other viable college funding solutions, and advisors like John McDonough of the Studemont Group College Funding Solutions, LLC can provide these parents with the necessary guidance.

Sunday, May 11, 2014

Experts say the best time to start planning for children’s college education is as soon they are born. Parents should anticipate the rising costs of education through the years, and plan for at least three times the current costs of attending college. It would also help to look into starting a college savings plan at the earliest time possible.

Many parents may understandably find the long-term planning difficult to set in motion, especially while the student-to-be is still innocently playing in the crib. Trusted college funding services such as those offered through John McDonough of the Studemont Group College Funding Solutions, LLC, may be called upon to help parents in the planning process. Those who may have failed to make an early start can also rely on these services to look for solutions that can put their children through higher education.

Friday, May 9, 2014

Almost all colleges, universities, and private institutions offer scholarships to some outstanding students. For most of these students, this is the most ideal way to get free money for college. A scholarship is often awarded to students who meet the criteria in various fields, such as academics, leadership, or sports. Unlike student loans, scholarships do not have to be repaid.

Many scholarships cover all the financial requirements for a college education, including tuition, and room and board. Some even offer allowances for the student’s out-of-school expenses. However, finding the most appropriate scholarship program, applying for it, and getting approved can be quite difficult, given the competition for these awards. College funding specialists, like John McDonough and those at Studemont Group College Funding Solutions, LLC can help parents and students identify potential scholarships and set the wheels in motion toward qualifying for these at the earliest time possible.

Wednesday, May 7, 2014

However, winning a scholarship is not as easy as it sounds. Parents may need to pull out all the stops and help their kids increase their chances of getting a scholarship. Parents can look into being active in their community, as there are some organizations that offer scholarships for college-bound kids. Of course, such scholarships won’t be enough to cover the entire college tuition, but they can help pay for books and dorm expenses.

Parents who work in big organizations may also have a shot at getting a scholarship for their kids. Some employers realize the importance of financial planning for college and thus offer college scholarship programs, and parents will just have to meet the required years of service to qualify. Some of these scholarships are merit-based, however, so an impressive list of scholastic achievements is critical.

Monday, May 5, 2014

The state of the economy is always pegged as symbiotic with the status of the education system. Conventional wisdom states that an economic downturn results in lesser government support but better enrolment numbers as a result of higher tuition revenue and more per-student spending. However, a look at the SHEEO data reveals that the additional government funds allocated for education during 2013 also triggered a 1.4% increase in per-student funding to a six-year high of $6,105.

A skilled college financial aid consultant like one from Studemont Group College Funding Solutions, LLC has the foresight to help you analyze the situation and draft solutions to tuition-related issues. Such competence will be vital in light of a supposed “new normal” stated in the report. The term meant families having to increase their allotments for college education; the schools are prompted to explore new ways to improve student productivity and academic competence in light of budget cuts.

Friday, May 2, 2014

A check of your liquid assets will suffice in pursuing finance options such as a mortgage or dipping into your 401(k). However, there are red flags which your advisor will explain. Onink says that loans made from 401(k) plans should be paid off within five years lest they be slapped with penalties and income taxes, while an incomplete home mortgage can lead to foreclosure.

Every parent should plan ahead in ensuring that their children can stand on their own, especially at such a formative stage in their lives. Competent college planning advisors like John McDonough of the Studemont Group College Funding Solutions, LLC will help you do that.